Starbucks Corp. [NASDAQ: SBUX] traded at a low on Monday, posting a -0.75 loss after which it closed the day’ session at $92.46. The company report on March 1, 2024 at 10:15 AM that Glass Lewis Recommends Shareholders Vote FOR ONLY each of the Starbucks Director Nominees.
Follows ISS’ recommendation that shareholders vote on the WHITE proxy card “FOR” ONLY Starbucks 11 director nominees.
Starbucks Corporation (Nasdaq: SBUX) today announced that proxy advisory firm Glass, Lewis & Co. (“Glass Lewis”) has recommended that Starbucks shareholders vote on the WHITE proxy card “FOR” ONLY each of the 11 Starbucks director nominees in connection with the Company’s Annual Meeting of Shareholders, which will take place virtually on March 13, 2024, at 10 a.m. PT.
The results of the trading session contributed to over 7318706 shares changing hands. Over the past one week, the price volatility of Starbucks Corp. stands at 1.36% while the volatility over the past one month is 1.74%.
The market cap for SBUX stock reached $104.68 billion, with 1.14 billion shares outstanding and 1.10 billion shares in the current float. Compared to the average trading volume of 8.74M shares, SBUX reached a trading volume of 7318706 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Starbucks Corp. [SBUX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SBUX shares is $107.28 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SBUX stock is a recommendation set at 2.29. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BTIG Research have made an estimate for Starbucks Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 31, 2024. While these analysts kept the previous recommendation, Citigroup dropped their target price from $103 to $102. The new note on the price target was released on January 18, 2024, representing the official price target for Starbucks Corp. stock. Previously, the target price had yet another raise from $112 to $120, while Morgan Stanley kept a Overweight rating on SBUX stock.
The Average True Range (ATR) for Starbucks Corp. is set at 1.67, with the Price to Sales ratio for SBUX stock in the period of the last 12 months amounting to 2.86. Price to Free Cash Flow for SBUX in the course of the last twelve months was 23.86 with Quick ratio for the last quarter at 0.52.
How has SBUX stock performed recently?
Starbucks Corp. [SBUX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.93. With this latest performance, SBUX shares dropped by -0.97% in over the last four-week period, additionally sinking by -5.11% over the last 6 months – not to mention a drop of -10.24% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SBUX stock in for the last two-week period is set at 43.07, with the RSI for the last a single of trading hit 40.05, and the three-weeks RSI is set at 44.50 for Starbucks Corp. [SBUX]. The present Moving Average for the last 50 days of trading for this stock 93.96, while it was recorded at 93.53 for the last single week of trading, and 97.23 for the last 200 days.
Starbucks Corp. [SBUX]: Deeper insight into the fundamentals
Starbucks Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.52 and a Current Ratio set at 0.70.
Earnings analysis for Starbucks Corp. [SBUX]
With the latest financial reports released by the company, Starbucks Corp. posted 0.74/share EPS, while the average EPS was predicted by analysts to be reported at 0.65/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 13.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SBUX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Starbucks Corp. go to 16.04%.
Insider trade positions for Starbucks Corp. [SBUX]
The top three institutional holders of SBUX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SBUX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SBUX stock with ownership which is approximately 5.8325%.
